The first-ever credit downgrade of the U.S. left Wall Street and Washington struggling to come to grips with a new world order. With the U.S. stripped by Standard & Poor’s of its triple-A credit rating, big banks brought in people to staff trading desks over the weekend, and Obama administration officials put a full-court press on skittish investors. Treasury Secretary Timothy Geithner—who agreed to stay through the 2012 election—told NBC News that “S&P has shown really terrible judgment.”
Markets brace for downgrade’s toll
Most Popular Articles
Latest Articles
Realty One Group joins growing list of firms to settle commission lawsuits
The firm joins six other brokerages in settling the commission lawsuits.